US job growth beats expectations but consumer confidence at all-time low

AFP | Washington

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US employment rose more than expected in April, alleviating some concerns about the health of the world’s largest economy even as one measure of consumer confidence came in at its lowest-ever level.

“Total nonfarm payroll employment edged up by 115,000 in April, and the unemployment rate was unchanged at 4.3 percent,” the US Bureau of Labor Statistics (BLS) said on Friday.

US consumer confidence, however, was an all-time low according to a University of Michigan survey, with Americans weighed down by concerns about high prices and the fallout of the US-Israel war on Iran.

The university’s Index of Consumer Sentiment came in at 48.2 in May 2026, its lowest level since data collection began in 1952, according to the survey’s website.

Friday’s data illustrated the complicated issues faced by the US economy. Job growth has see-sawed between expansion and contraction for the last year, and inflation has remained stubbornly high since the pandemic.

While April’s jobs data showed growth, economists have expressed concern that the zig-zagging employment data is due to underlying weakness in economic growth.

Nonetheless, the figure is likely to reassure Federal Reserve officials that they can hold interest rates steady for now, as surging energy costs due to the Iran war fan inflation fears.

Friday’s jobs data beat analyst expectations, with economists polled by Dow Jones Newswires and the Wall Street Journal expecting growth of 55,000.

The White House welcomed the new data, with spokesperson Kush Desai calling it “yet another sign that the American economy remains on a solid trajectory under President (Donald) Trump.